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December 13, 2017

Investors

CB&I Announces Residue Upgrading Technology Award - First Ever Unit in India

11/14/2017

THE WOODLANDS, Texas, Nov. 14, 2017 /PRNewswire/ -- CB&I (NYSE:CBI) today announced it has been selected by Indian Oil Corporation Limited (IOCL) for the license, engineering design and catalyst supply for a residue upgrading unit in Mathura, India. The unit will use Chevron Lummus Global's (CLG) LC-MAX™ and ISOCRACKING® technologies. The scope of work also includes the supply of catalysts, proprietary reactor internals, and training and technical services. CLG is a joint venture between Chevron U.S.A. Inc. and CB&I.

"This will be the first vacuum residue upgrading unit in India," said Daniel M. McCarthy, CB&I's Executive Vice President of Technology. "The high-conversion rates offered will enable the IOCL refinery to eliminate fuel oil while producing high-quality diesel for the region."

CLG's ISOCRACKING and LC-MAX technologies provide the most flexible upgrade path of vacuum residue to lighter, premium products at an industry-leading conversion rate of 90 percent. The flexibility and high-conversion rates achieved by the technologies enable customers to reach a balance between stringent product specifications, product yield and cycle run-length, all with the benefit of lower capital investment and operating costs.

About CB&I
CB&I (NYSE:CBI) is a leading provider of technology and infrastructure for the energy industry. With more than 125 years of experience, CB&I provides reliable solutions to our customers around the world while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information, visit www.CBI.com.

Important Information For Investors And Shareholders

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding CB&I and represents our expectations and beliefs concerning future events. These forward-looking statements are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties. When considering any statements that are predictive in nature, depend upon or refer to future events or conditions, or use or contain words, terms, phrases or expressions such as "achieve," "forecast," "plan," "propose," "strategy," "envision," "hope," "will," "continue," "potential," "expect," "believe," "anticipate," "project," "estimate," "predict," "intend," "should," "could," "may," "might" or similar forward-looking statements, we refer you to the cautionary statements concerning risk factors and "Forward-Looking Statements" described under "Risk Factors" in Item 1A of our Annual Report filed on Form 10-K filed with the SEC for the year ended December 31, 2016, and any updates to those risk factors or "Forward-Looking Statements" included in our subsequent Quarterly Reports on Form 10-Q filed with the SEC, which cautionary statements are incorporated herein by reference.

Investors: Scott Lamb, +1 832 513 1068, Scott.Lamb@CBI.com
Media: Gentry Brann, +1 832 513 1031, Gentry.Brann@CBI.com

 

For more information, visit  www.cbi.com (http:// www.cbi.com ). (PRNewsFoto/CB&I)

 

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SOURCE CB&I

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NYSE: CBI 18.10
Change: -0.29 -1.58% )
Volume: 622,850
20 minute delay December 13, 2017 11:26 AM